Ho Chi Minh City posts 5 percent growth in exports

Illustrative image (Photo: VNA)

Ho Chi Minh City exports were up 5.1 percent and imports saw a surge of 26 percent in the first half of this year as compared to the same period in 2020, resulting in a trade surplus of 4.53 billion USD, according to the municipal Statistic Office.

Due to the impact of the fourth wave of COVID-19, export turnover of many businesses in Ho Chi Minh City at border gates across the country in June fell 29.7 percent against May, registering 2.73 billion USD. Exports, excluding crude oil, reached 2.65 billion USD, down 28.3 percent over the previous month.

In the first six months of 2021, the export revenue hit 21.9 billion USD, up 5.1 percent year-on-year.

The city had five groups of goods with an export value of over 1 billion USD, accounting for 75 percent of the total export turnover. The export value of computers, electronic products and components was 7.7 billion USD, a decrease of 7.1 percent.

China remained the southern city’s biggest buyer, with a turnover of nearly 4.6 billion USD, accounting for 22.6 percent of the total and down 11.4 percent over the same period in 2020. It was followed by the US, with 3.25 billion USD, making up 16 percent and up 0.3 percent year-on-year.

The FDI sector remained the main driving force in the city's import and export growth in the first half of 2021, with export turnover rising by 6.2 percent and imports increasing by 12.2 percent over the same period last year./.